Author: GlobeNewswire

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Will bring Canadians exclusive content from the Festival
Will create VIP red carpet experience for Rogers customers

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TORONTO, Jan. 21, 2025 (GLOBE NEWSWIRE) — Toronto International Film Festival and Rogers are pleased to announce a three-year agreement that will see Rogers return as the official Presenting Partner of the Festival and the People’s Choice Award through 2027.

The expanded partnership builds on the success of TIFF ’24, which welcomed a record-breaking 700,000 attendees and hundreds of the world’s biggest filmmakers and stars. The 50th edition of the Toronto International Film Festival, presented by Rogers, will take place from September 4 to 14, 2025.

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“We are excited to continue our partnership with Rogers through 2027, building on the terrific momentum we’ve created together,” said Cameron Bailey, CEO, TIFF. “We share a vision of celebrating Canadian storytelling and commitment to excellence on a global stage, and we look forward to working together to create a truly remarkable 50th edition of our Festival in September.”

“We are committed to supporting world-class film and cinema and bringing the best in entertainment to Canadians,” said Tony Staffieri, CEO, Rogers. “We look forward to celebrating TIFF’s 50^th edition this year and to continuing a successful multi-year partnership.”  

Rogers and TIFF will create a new original content series in partnership with TIFF’s in-house Studio 9 production team. Rogers will also develop and produce a 50th edition TV special to be aired exclusively on Citytv. Rogers customers will have access to VIP red carpet experiences through Rogers Beyond the Seat.

TIFF is marking a historic milestone with the 50th edition of the Festival and celebratory programming and events throughout the year. Look for an announcement next week with more information. 

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About Rogers Communications Inc.

Rogers is Canada’s communications and entertainment company and its shares are publicly traded on the Toronto Stock Exchange (TSX: RCI.A and RCI.B) and on the New York Stock Exchange (NYSE: RCI). For more information, please visit rogers.com or investors.rogers.com.

About TIFF

TIFF is a not-for-profit cultural organization with a mission to transform the way people see the world through film. An international leader in film culture, TIFF projects include the annual Toronto International Film Festival^® in September; TIFF Lightbox, which features five cinemas, learning and entertainment facilities; and the innovative national distribution program Film Circuit. The organization generates an annual economic impact of $200 million CAD. TIFF Lightbox is generously supported by contributors including the Government of Ontario, the Government of Canada, the City of Toronto, the Reitman family (Ivan Reitman, Agi Mandel, and Susan Michaels), The Daniels Corporation, and RBC. For more information, visit tiff.net.

Media Contacts:  
For TIFF: proffice@tiff.net 
For Rogers: media@rci.rogers.com 

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TORONTO, Jan. 17, 2025 (GLOBE NEWSWIRE) — Guardian Capital LP (the “Manager”) announces the following regular cash distributions for the period ending January 31, 2025, in respect of the ETF series of the Guardian Capital funds listed below (the “Guardian Capital ETFs”). In each case, the distribution will be paid on January 31, 2025 to unitholders of record on January 27, 2025. The ex-dividend date in each case is anticipated to be January 27, 2025.

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About Guardian Capital LP
Guardian Capital LP is the manager and portfolio manager of the Guardian Capital Funds and Guardian Capital ETFs, with capabilities that span a range of asset classes, geographic regions and specialty mandates. Additionally, Guardian Capital LP manages portfolios for institutional clients such as defined benefit and defined contribution pension plans, insurance companies, foundations, endowments and investment funds. Guardian Capital LP is a wholly owned subsidiary of Guardian Capital Group Limited and the successor to its original investment management business, which was founded in 1962. For further information on Guardian Capital LP, please call 416-350-8899 or visit www.guardiancapital.com.

About Guardian Capital Group Limited
Guardian Capital Group Limited (“Guardian”) is a global investment management company servicing institutional, retail and private clients through its subsidiaries. As of September 30, 2024, Guardian had C$165.1 billion of total client assets while managing a proprietary investment portfolio with a fair market value of C$1.2 billion. Founded in 1962, Guardian’s reputation for steady growth, long-term relationships and its core values of authenticity, integrity, stability and trustworthiness have been key to its success over six decades. Its Common and Class A shares are listed on the Toronto Stock Exchange as GCG and GCG.A, respectively. To learn more about Guardian, visit www.guardiancapital.com.

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For further information, please contact:
Angela Shim
AShim@guardiancapital.com

Caution Concerning Forward-Looking Statements
Certain information included in this press release may constitute forward-looking information within the meaning of applicable Canadian securities laws. All information other than statements of historical fact may be forward-looking information. Forward-looking information is often, but not always, identified by the use of forward-looking terminology such as “outlook”, “objective”, “may”, “will”, “would”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “should”, “plan”, “continue”, or similar expressions suggesting future outcomes or events or the negative thereof. Forward-looking information in this press release may include statements with respect to management’s beliefs, plans, estimates, and intentions, and similar statements concerning anticipated future events, results, circumstances, performance or expectations. Such forward-looking information reflects management’s beliefs and is based on information currently available. The reader is cautioned not to put undue reliance on forward-looking information, as there can be no assurance that actual results will be consistent with such forward-looking information. Guardian Capital LP undertakes no obligation, except as required by applicable law, to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

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Unlike traditional exchange traded funds (“ETFs”), the GuardPath^® Managed Decumulation 2042 Fund (the “GuardPath ETF”) is a unique investment fund structure and investors should carefully consider whether their financial condition and investment objectives are aligned with this retirement-focused investment. The GuardPath ETF may be suitable for an investor primarily concerned about having sufficient income in retirement, especially in the later years of their life. It may not be suitable for an investor whose primary objective is to leave capital behind for their estate. The GuardPath ETF is not an insurance company, nor an insurance or annuity contract and unitholders will not have the protections of insurance laws. Distributions provided by the GuardPath ETF are not guaranteed or backed by an insurance company or any third party. The long-term total return and the sustainability of the rate of distributions of the GuardPath ETF may be impacted by volatility and sequence of returns risk. This is not a complete list of the risks associated with an investment in the GuardPath ETF. Please refer to the prospectus of the GuardPath ETF for details.

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This communication is intended for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to purchase Guardian Capital ETFs and is not, and should not be construed as, investment, tax, legal or accounting advice, and should not be relied upon in that regard. Commissions, management fees and expenses all may be associated with investments in the Guardian Capital ETFs. Please read the prospectus before investing. For ETFs other than money market funds, unit values change frequently. ETFs are not guaranteed and past performance may not be repeated. You will usually pay brokerage fees to your dealer if you purchase or sell units of an ETF on the Toronto Stock Exchange (“TSX”) or Cboe Canada Inc. (“Cboe”). If the units are purchased or sold on the TSX or Cboe, investors may pay more than the current net asset value when buying units of the ETF and may receive less than the current net asset value when selling them. ETF and mutual fund securities, including units of the Guardian Capital ETFs, are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. There can be no assurances that the Guardian Ultra-Short Canadian T-Bill Fund or the Guardian Ultra-Short U.S. T-Bill Fund will be able to maintain the net asset value per unit of the mutual fund units at a constant amount or that the full amount of your investment in these money market funds will be returned to you.

All trademarks, registered and unregistered, are owned by Guardian Capital Group Limited and are used under licence.

¹ On January 10, 2025, the Manager announced the change of the distribution frequency of this fund from quarterly to monthly.
² On January 10, 2025, the Manager announced that this fund will terminate on or about March 28, 2025.

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NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

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TORONTO, Jan. 16, 2025 (GLOBE NEWSWIRE) — Pelican Canada Inc., doing business as Pelican AI (“Pelican” or the “Company”) and Christie Capital Corp. (“Christie”) are pleased to announce that Pelican has launched a brokered private placement of subscription receipts (each, a “Subscription Receipt”) at a price of C$0.25 per Subscription Receipt for total gross proceeds of up to C$5,000,000 (the “Offering”).

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Canaccord Genuity Corp. (the “Lead Agent”) is acting as sole lead manager and sole bookrunner in connection with the Offering, together with a syndicate of agents including Research Capital Corporation (“Research Capital” and together with the Lead Agent, the “Agents”).

The Offering

The Offering is being undertaken in anticipation of the business combination transaction that will result in a reverse takeover of Christie by Pelican (the “Transaction”), that was previously announced in a news release by Christie on December 3, 2024. The Transaction will be structured as a three-cornered amalgamation, whereby a wholly-owned subsidiary of Christie formed for such purpose will amalgamate with Pelican (the “Amalgamation”). Christie following the completion of the Transaction is referred to as the “Resulting Issuer”.

Completion of the Transaction is subject to a number of conditions, which include, among others, receipt of all necessary board, shareholder and regulatory approvals, including the conditional approval of the listing of the common shares of the Resulting Issuer on the TSX Venture Exchange (“Exchange”). In connection with the Transaction, the Resulting Issuer intends to change its name to “PelicanAI Corp.” or such other name as mutually agreed to by Christie and Pelican and acceptable to the regulators (the “Name Change”).

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The Lead Agent shall have the option (the “Agents’ Option”) to increase the size of the Offering by up to an additional 20% of the Subscription Receipts sold under the Offering, exercisable in whole or in part, at any time and from time to time, prior to the closing date of the Offering (the “Offering Closing Date”), which is expected to occur in Q1 2025.

Upon the satisfaction of the Escrow Release Conditions (as defined below) each Subscription Receipt will be automatically exchanged, without payment of any additional consideration and without further action on the part of the holder thereof, into one common share of Pelican (each, a “Pelican Share”). On closing of the Transaction, each Pelican Share will be exchanged for one common share of the Resulting Issuer. As a result of the Transaction, the common shares of the Resulting Issuer issued to former holders of Subscription Receipts are anticipated to be free-trading.

On the Offering Closing Date, the gross proceeds from the Offering, less the cash commission payable to the Agents and the reasonable costs and expenses of the Agents payable by Pelican (collectively the “Escrowed Funds”) will be delivered to and held by an escrow agent mutually acceptable to Pelican and the Lead Agent (the “Escrow Agent”). The Escrowed Funds will be subject to customary escrow release conditions (the “Escrow Release Conditions”), including, among other things, the satisfaction or waiver of the conditions precedent to the completion of the Transaction, upon satisfaction of which, the Escrowed Funds (less any remaining expenses of the Agents) will be released to Pelican.

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In the event that the Escrow Release Conditions are not satisfied prior to 11:59 p.m. (Toronto time) on the date that is 180 days after the Offering Closing Date or such later date as Pelican and the Agents may agree (the “Escrow Deadline”), the Escrow Agent will return to holders of Subscription Receipts an amount equal to the aggregate issue price of the Subscription Receipts held by them and their pro rata portion of any interest earned thereon. To the extent that the Escrowed Funds are insufficient to pay such amounts to the holders of the Subscription Receipts, Pelican will be liable for and will be required to contribute such amounts as are necessary to satisfy any shortfall.

The net proceeds of the Offering, when released to Pelican, will be used for working capital and general corporate purposes.

Exchange Listing

Christie is a “reporting issuer” in the Provinces of British Columbia and Alberta, but is not currently listed for trading on any stock exchange. Christie has applied to list the common shares of the Resulting Issuer on the Exchange, and completion of the Transaction is subject to, among other things, receiving conditional listing approval from the Exchange.

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Management of the Resulting Issuer

In connection with the closing of the Transaction (the “Closing Date”), all of Christie’s current directors and executive officers will resign and the board of directors and executive officers of the Resulting Issuer will be comprised of nominees of Pelican. Subject to Exchange and shareholder approval, it is anticipated that the following persons will serve as the officers and directors of the Resulting Issuer:

Sasha Grujicic – Chief Executive Officer

Mr. Grujicic is the former CEO of NowVertical Group Inc., listed on the TSX-V under the symbol “NOW”. Mr. Grujicic previously acted as Chief Strategy Officer of 1QBit Advanced Quantum Computing, a privately held corporation based in Vancouver, British Columbia. Prior to that, Mr. Grujicic was Chief Strategy and Digital Officer of Dentsu Aegis Network, a subsidiary of the Dentsu Group Inc., listed on the Tokyo Stock Exchange, where he was responsible for running product and service development delivery, M&A integration, financial and operational oversight and business development.

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Anand Phanse – Chief Financial Officer

Mr. Phanse is an experienced financier who started his financial career at Bear Stearns (now part of JP Morgan) and then worked at Lehman Brothers. Mr. Phanse was the former Chief Financial Officer of Billon Group Ltd., a UK-based blockchain technology company. Mr. Phanse was a partner and investment director at Fjord Capital Partners Ltd., a venture investment firm, and where, among many other investments, he successfully led the final round of Tesla Motor’s pre-IPO financing. Mr. Phanse was previously selected as a Global Leadership Fellow at the World Economic Forum. Mr. Phanse has served as a board member and advisor to several fast-growing companies and a business innovation trainer in the European Commission’s Horizon 2020 SME programme. Mr. Phanse graduated with a bachelor’s in technology (chemical engineering) and holds an MBA.

Daren Trousdell – Executive Chairman, Director, Chair of the Compensation Committee and Affiliate Transaction Committee

Mr. Trousdell is a serial entrepreneur with 20 years of experience in founding, growing, and exiting technology companies, including NowVertical Group and Clip Money Inc. Mr. Trousdell has extensive global M&A experience, handling deals valued from US$5 million to over US$400 million on both buy and sell sides, covering deal origination, execution, and integration. Mr. Trousdell previously founded and sold Mindblossom, a digital media and technology agency, to Dentsu Aegis Network, later leading North American client strategy and corporate development for the group.

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Parth Desai – AI Evangelist, Founder, Director

Mr. Desai is the founder of Ace Software Solutions, Inc. and the Pelican group of companies. Mr. Desai graduated from Georgia Tech with a master’s degree in artificial intelligence and honed his skills under AI pioneer Roger Schank, specializing in AI and natural language processing. Mr. Desai has built a global team with deep AI expertise, driving innovation in the banking, financial services, and insurance sectors, focusing on payments, security, anti-money laundering, and risk management.

Faran Siddiqui – Vice-President, Technology

With over two decades in trading, technology, and investment management, Mr. Siddiqui is one of Canada’s most distinguished exchange engineers, having built the BitBuy Exchange as well as optimizing and regulating CoinSquare and CoinSmart. Mr. Siddiqui has held executive and engineering roles across fintech and financial institutions including Co-founder & Chief Technology Officer at CapFi, focusing on high-frequency trading, low-latency systems, risk management, and team leadership.

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John Desmond – Director, Chair of the Audit Committee

Mr. Desmond is an independent director at Pelican. He has over 40 years in public accounting, serving mid-cap public and private equity-backed companies across industries including manufacturing, banking, and technology. Mr. Desmond was previously the Partner-in-Charge and Senior Audit Partner, Grant Thornton LLP (New York & Long Island), and is a current board member of The First National Bank of Long Island, Clip Money Inc. (CSE), Spirit of America Investment Funds Inc., Nassau Heath Care Corporation, and the Theodore Roosevelt Council, Boy Scouts of America.

John Adamovich – Lead Director, Chair of the Governance and Nominating Committee

Mr. Adamovich is an independent director at Pelican. He has over 40 years combined experience serving publicly held companies as a CFO (of Now Vertical Group (TSX), Aeroflex Holding Corporation (NYSE), Pall Corporation (NYSE), and Rainbow Media Enterprises (a subsidiary of Cablevision Systems Corporation)), and SEC Reviewing Partner at KPMG LLP. He is a current board member of Voxx International Corporation (NASDAQ).

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Marcel Van der Wal – Director

Mr. Van der Wal is an independent director at Pelican. Mr. Van der Wal is the former Chief Revenue Officer, Chief Operating Officer, and board member at Ace Software Solutions Limited. Mr. Van der Wal has 30 years of leadership in mission critical enterprise software, M&A and private equity. He co-founded Rorke Data Inc., growing it to US$60 million in annual revenue and 240+ employees. Thereafter, as Director Europe at Oracle Financial Services Software (Reuters: OFSS) in 10 years he significantly contributed within OFSS to become a global core banking software leader. At Temenos Banking Software (Reuters:TMNS), he rebuilt the Benelux region and launched its first SaaS platform in 2012. As partner of IT technologies at Quadrum Capital private equity he drove their software and technology investments and correlated M&A activities.

Shareholder Approvals

Prior to the Closing Date, Christie intends to seek requisite shareholder approval by written consent to approve, among other things, (i) the Name Change; (ii) the election of the directors to replace the current directors of Christie conditional upon the completion of the Transaction; (iii) the Amalgamation; (iv) the appointment of new auditors; and (v) such other matters as Pelican may reasonably request in connection with the Transaction.   Pelican will convene a meeting of its shareholders for the purposes of approving the Amalgamation.

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Further details of the Offering, the Transaction and the business and operations of Pelican (including applicable financial statements) will be described in the listing application or other applicable disclosure document to be prepared in accordance with the policies of the Exchange. A copy of the listing application or other applicable disclosure document will be available electronically on SEDAR+ under Christie’s issuer profile in due course.

As noted above, completion of the Transaction is subject to a number of conditions. There can be no assurance that the Transaction will be completed as proposed or at all.

Description of Pelican and its Business

Pelican specializes in providing AI-driven solutions for payment processing and financial crime compliance. With over 25 years of experience, Pelican leverages artificial intelligence, machine learning, and natural language processing to support banks, fintech companies, and corporations in managing payments and ensuring regulatory compliance. Operating in over 55 countries, Pelican has processed more than one billion transactions, encompassing various payment types and global banking standards.

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All information contained in this news release with respect to Pelican and the proposed officers and directors was supplied by Pelican for inclusion herein and Christie has relied on the accuracy of such information without independent verification.

For additional information, please contact:

Christie Capital Corp.
Binyomin Posen, Chief Executive Officer
T: +1 (647) 982-2494
E: bposen@plazacapital.ca

Pelican Canada Inc.
Daren Trousdell, Executive Chairman
T: +1 (732) 603-4990
E: daren@koatcapital.com

Investors are cautioned that, except as disclosed in the listing application or other applicable disclosure document to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Christie should be considered highly speculative.

Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) has in any way passed upon the merits of the Transaction nor accepts responsibility for the adequacy or accuracy of this news release.

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This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities under the Offering in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

CAUTIONARY STATEMENTS REGARDING FORWARD LOOKING INFORMATION

This press release contains statements that constitute “forward-looking information” (“forward-looking information”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, scheduled”, forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur to be achieved) are not statements of historical fact and may be forward-looking information.

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More particularly and without limitation, this press release contains forward-looking statements concerning the Transaction and the Offering. In disclosing the forward-looking information contained in this press release, each of Christie and Pelican has made certain assumptions, including that: all necessary board, shareholder and regulatory approvals for the Transaction and the Offering will be received, including the approval of the Exchange with respect to the listing of the Resulting Issuer common shares; the Transaction will be completed on mutually acceptable terms and within a customary timeframe for transactions of this nature and in any event prior to the Escrow Deadline; the proposed directors and officers of the Resulting Issuer will be approved by the Exchange; and the Offering will be completed on terms acceptable to Christie, Pelican, and the Agents. Although Christie and Pelican believe that the expectations reflected in such forward-looking information are reasonable, they can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: the ability of Pelican and Christie to consummate the Offering and/or Transaction and the timing thereof; the approval of the board of directors and/or shareholders of Pelican and Christie of the Transaction and/or Offering; the ability of the Resulting Issuer to obtain conditional listing approval from the Exchange; delay or failure to receive third party consents or regulatory approvals; and general business, economic, competitive, political and social uncertainties.

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There can be no certainty that the Transaction or the Offering will be completed on the terms mutually satisfactory to the parties or at all. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Except as required by law, each of Christie and Pelican disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information or otherwise.

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MURDOCHVILLE, Quebec, Jan. 13, 2025 (GLOBE NEWSWIRE) — Osisko Metals Incorporated (the “Company or “Osisko Metals“) (TSX-V: OM; OTCQX: OMZNF; FRANKFURT: 0B51) is pleased to welcome the participation of the Government of Quebec in its Gaspé Copper Project, located next to the Town of Murdochville in the Gaspé Peninsula, on the traditional territory of the Mi’gmaq First Nation of Gespe’gewa’gi.

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The Government of Quebec will lead a pilot project to create a committee that seeks to maximize the economic benefits of the Gaspé Copper Project. The committee will be overseen by the Ministère des Ressources naturelles et des Forêts (Quebec Ministry of Natural Resources and Forests) and aims to optimize socio-economic benefits in the Gaspé Peninsula by ensuring strong collaboration with the business community throughout the project development process.

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The announcement was made today in Murdochville during a press conference by Ms. Maïté Blanchette Vézina, Minister of Natural Resources and Forests and Minister Responsible for the Bas-Saint-Laurent Region and the Gaspésie−Îles-de-la-Madeleine Region, along with Mr. Stéphane Sainte-Croix, MNA for Gaspé, and local representatives. Mr. Robert Wares, CEO of Osisko Metals, also participated in the press conference.

Minister Maïté Blanchette Vézina said, “I am very proud of the creation of this maximization committee, which will act as a lever for cooperation and transparency in this project. This approach demonstrates our government’s desire to develop mining activities harmoniously, as evidenced by the modernization of the Mining Act. Copper and its derivatives are minerals we need to be interested in for our energy transition, and completing this mining project could ultimately help secure our supplies. I want to thank all the stakeholders in advance for participating in the committee.”

“This initiative by our government demonstrates our commitment to help create winning conditions for the participation of economic stakeholders and the development of business opportunities associated with the Gaspé Copper project,” added Mr. Stéphane Sainte-Croix, MNA for Gaspé. “As such, we are convinced that this pilot project will allow for a structuring and harmonious integration of stakeholders in the economic project and will contribute significantly to the major benefits that will participate in the development and visibility of the region.”

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On behalf of Osisko Metals, Mr. Wares said, “We are delighted to have the participation and support of the Government of Quebec in the advancement of the Gaspé Copper project. Osisko Metals intends to develop the project in harmony with the citizens of Murdochville and the Gaspé Peninsula, the Mi’gmaq community of Gespe’gewa’gi and the local business community while prioritizing respect for the environment and sustainable development in our activities. We firmly believe that Gaspé Copper could become an economic pillar that will benefit the Gaspé Peninsula for several decades to come.”

About the Project

Osisko Metals’ Gaspé Copper project aims to restart the Murdochville Gaspé Copper mine by 2031. The former mine site contains excellent estimated resources of copper, a critical and strategic mineral that is increasingly in demand worldwide, and other important by-products in the industry, such as molybdenum. The Gaspé Copper Project is currently in the advanced exploration phase and Osisko Metals plans to continue its feasibility studies until 2027.

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Responsible and Harmonious Collaboration

On the ministerial side, the announced pilot project comes from the 2024-2025 Roadmap for the harmonious and responsible development of mining activity, also made public today by the Minister of Natural Resources and Forests. This roadmap stems more broadly from the major observations made following the Participatory Approach for the Harmonious Development of Mining Activity, carried out in the spring of 2023, which included social acceptability, the participation of local communities and the maximization of economic benefits.

The objectives of the maximization committee formed in Murdochville, therefore, aim to improve and consolidate approaches that promote economic benefits on a regional scale, increase the participation of local and Indigenous business communities in the development of the project, and identify opportunities within the circular economy. Creating a place for exchanges between the business community and Osisko Metals also facilitates the overall understanding of the project and the opportunities it creates in the area. Various local and regional economic development organizations – municipal, governmental, business and Indigenous – will sit on the committee.

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Osisko Metals’ Leadership

Osisko Metals is also proud of the leadership role it plays in the industry and on the provincial scene, as its participation in this pilot project will allow the Ministry to identify best practices for maximizing benefits in mining project host communities and to develop a program of support that facilitates the establishment of this type of committee in other regions of Quebec.

About Osisko Metals

Osisko Metals Incorporated is a Canadian exploration and development company creating value in the critical metals sector, with a focus on copper and zinc.

The Company acquired a 100% interest in the past-producing Gaspé Copper mine from Glencore Canada Corporation in July 2023. The Gaspé Copper mine is located near Murdochville in Québec‘s Gaspé Peninsula. The Company is currently focused on resource expansion of the Gaspé Copper system, with current Indicated Mineral Resources of
824 Mt grading 0.34% CuEq and Inferred Mineral Resources of 670 Mt grading 0.38% CuEq (in compliance with NI 43-101). For more information, see Osisko Metals’ November 14, 2024 news release entitled “Osisko Metals Announces Significant Increase in Mineral Resource at Gaspé Copper“. Gaspé Copper hosts the largest undeveloped copper resource in eastern North America, strategically located near existing infrastructure in the mining-friendly province of Québec.

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In addition to the Gaspé Copper project, the Company is working with Appian Capital Advisory LLP through the Pine Point Mining Limited joint venture to advance one of Canada‘s largest past-producing zinc mining camps, the Pine Point project, located in the Northwest Territories. The current mineral resource estimate for the Pine Point project consists of Indicated Mineral Resources of 49.5 Mt at 5.52% ZnEq and Inferred Mineral Resources of 8.3 Mt at 5.64% ZnEq (in compliance with NI 43-101). For more information, see Osisko Metals‘ June 25, 2024 news release entitled “Osisko Metals releases Pine Point mineral resource estimate: 49.5 million tonnes of indicated resources at 5.52% ZnEq”. The Pine Point project is located on the south shore of Great Slave Lake, Northwest Territories, close to infrastructure, with paved road access, an electrical substation and 100 kilometers of viable haul roads.

For further information on this news release, visit www.osiskometals.com or contact:

Robert Wares, Chief Executive Officer of Osisko Metals Incorporated

Email: info@osiskometals.com

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Follow Osisko Metals on Facebook at https://www.facebook.com/osiskometals, on LinkedIn at https://www.linkedin.com/company/osiskometals, and on X at https://twitter.com/osiskometals.

Cautionary Statement on Forward-Looking Information

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “potential”, “feasibility”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken, occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains forward-looking information pertaining to, among other things: the anticipated changes to the management and Board of the Company; the ability for the Company to complete the Transaction on the terms contemplated (if at all); the size of the Transaction; the Closing Date of the Transaction; the ability for the Company to obtain the conditional and final approval of the TSX Venture Exchange; the anticipated use of proceeds of the Transaction; the tax treatment of the FT Units; the timing of incurring the Qualifying Expenditures and the renunciation of the Qualifying Expenditures; the ability to advance Gaspé Copper to a construction decision (if at all); the ability to increase the Company’s trading liquidity and enhance its capital markets presence; the potential re-rating of the Company; the expectation that management and directors of the Company will be significant shareholders of the Company following the Transaction; the ability for the Company to unlock the full potential of its assets and achieve success; the ability for the Company to create value for its shareholders; the advancement of the Pine Point project; the anticipated resource expansion of the Gaspé Copper system; and Gaspé Copper hosting the largest undeveloped copper resource in eastern North America.

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Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management, in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including, without limitation, assumptions about: the ability of exploration results, including drilling, to accurately predict mineralization; errors in geological modelling; insufficient data; equity and debt capital markets; future spot prices of copper and zinc; the timing and results of exploration and drilling programs; the accuracy of mineral resource estimates; production costs; political and regulatory stability; the receipt of governmental and third party approvals; licenses and permits being received on favourable terms; sustained labour stability; stability in financial and capital markets; availability of mining equipment and positive relations with local communities and groups. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information are set out in the Company’s public disclosure record on SEDAR+ (www.sedarplus.ca) under Osisko Metals’ issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

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This news release contains “forward-looking information and statements” within the meaning of applicable securities laws. For a full disclosure of the forward-looking information and statements and the risks to which they are subject, see the “Cautionary Statement Regarding Forward-Looking Information and Statements” later in this news release.

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CALGARY, Alberta, Jan. 07, 2025 (GLOBE NEWSWIRE) — Precision Drilling Corporation (Precision or the Company) (TSX:PD; NYSE:PDS) is pleased to provide a series of positive announcements including: 1) 2024 debt repayment and year end liquidity update; 2) capital allocation framework update; and 3) financial and operational update.

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2024 Debt Repayment and Year End Liquidity Update

Precision reduced debt by $176 million in 2024, achieving the mid-point of its debt reduction target range. As at December 31, 2024, Precision’s outstanding debt obligations included:

• US$160 million – 7.125% unsecured senior notes due January 15, 2026
• US$400 million – 6.875% unsecured senior notes due January 15, 2029
• US$12 million drawn on the Senior Credit Facility

The Company ended 2024 with a cash balance of approximately $74 million, compared to $54 million at year end 2023, and total available liquidity of approximately $575 million.

Capital Allocation Framework Update

Precision remains firmly committed to its long-term debt reduction target of repaying $600 million between 2022 and 2026 and reaching a sustained Net Debt to Adjusted EBITDA leverage ratio¹ of below 1.0 times. Over the past three years, we have reduced our debt by $435 million and lowered our Net Debt to Adjusted EBITDA leverage ratio, which we expect to be approximately 1.4 times as at December 31, 2024.

During 2024, Precision returned $75 million to shareholders through share repurchases under its Normal Course Issuer Bid and as at December 31, 2024 had 13,779,502 shares outstanding, compared to 14,336,539 as at December 31, 2023, a decrease of 4%.

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Since 2015, Precision has prioritized its capital allocation plans, allocating $1.5 billion of its free cash flow to debt repayments and share buybacks, while investing $1.3 billion in its fleet and completing two acquisitions. As at December 31, 2024, our annual run rate interest expense is approximately US$40 million compared to US$104 million in 2016.

With a strong free cash flow outlook in 2025, we plan to further reduce our debt while increasing our share buyback allocation. In February, we will provide specific capital allocation plans and targets for 2025.

^{1. Net Debt to Adjusted EBITDA leverage ratio is a Non-GAAP measure. Please refer to page 41 of Precision’s Annual Report for the year ended December 31, 2023 for more information.}

Financial and Operational Update

Financial Results

Precision intends to release its 2024 fourth quarter results after markets close on Wednesday, February 12, 2025. Fourth quarter drilling field margins in Canada and the U.S. are expected to align with previous guidance. With a closing share price of $87.92 on December 31, 2024, share based compensation expense for the fourth quarter and full year is expected to be approximately $15 million and $47 million, respectively, which also aligns with previous guidance.

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Operational Activity

In Canada, Precision continues to experience strong customer demand for drilling services, particularly when Alpha^TM technologies and EverGreen^TM environmental solutions are included. While some customers deferred fourth quarter drilling plans to January, our average active rig count remained robust at 65. We currently have 78 rigs active and expect our rig count to peak between the low to mid-80s during this winter drilling season, with our Super Triple and Super Single fleets nearly fully utilized.

In the U.S., we averaged 34 rigs in the fourth quarter and have 32 rigs operating today with an additional four rigs earning standby revenue. We expect industry and Precision’s active rig count to remain relatively steady in the mid 30s for the first half of 2025.

Internationally, Precision continues to have eight active rigs, with three in the Kingdom of Saudi Arabia and five in Kuwait. Our international operations provide a stable foundation for earnings and cash flow as our rigs are under long-term contracts that extend into 2028.

As we enter 2025, we expect continued high activity levels for our Well Service business. 85 to 100 crews are projected to be operational in early January, with additional crews expected to be deployed after that.

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CFO Quote

Carey Ford, Precision’s CFO, commented, “Precision generated robust free cash flow in 2024 driven by increased activity and margin progression in Canada, integration of our CWC Energy Services acquisition, and international growth. With a strong free cash flow outlook, we plan to improve our capital returns to shareholders in 2025 by continuing to reduce our debt and increasing the percentage of free cash flow returned directly to shareholders. I am proud of our people’s commitment to Precision’s High Performance, High Value strategy, delivering exceptional services to our customers, and increasing value for our shareholders.”

About Precision

Precision is a leading provider of safe and environmentally responsible High Performance, High Value services to the energy industry, offering customers access to an extensive fleet of Super Series drilling rigs. Precision has commercialized an industry-leading digital technology portfolio known as Alpha^TM that utilizes advanced automation software and analytics to generate efficient, predictable, and repeatable results for energy customers. Our drilling services are enhanced by our EverGreen^TM suite of environmental solutions, which bolsters our commitment to reducing the environmental impact of our operations. Additionally, Precision offers well service rigs, camps and rental equipment all backed by a comprehensive mix of technical support services and skilled, experienced personnel.

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Precision is headquartered in Calgary, Alberta, Canada and is listed on the Toronto Stock Exchange under the trading symbol “PD” and on the New York Stock Exchange under the trading symbol “PDS”.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION AND STATEMENTS

Certain statements contained in this report, including statements that contain words such as “could”, “should”, “can”, “anticipate”, “estimate”, “intend”, “plan”, “expect”, “believe”, “will”, “may”, “continue”, “project”, “potential” and similar expressions and statements relating to matters that are not historical facts constitute “forward-looking information” within the meaning of applicable Canadian securities legislation and “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 (collectively, “forward-looking information and statements”).

In particular, forward-looking information and statements include, but are not limited to, the following:

• anticipated future activity levels;
• anticipated free cash flow; and
• our future debt reduction and shareholder capital return plans.

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These forward-looking information and statements are based on certain assumptions and analysis made by Precision in light of our experience and our perception of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances. These include, among other things:

• the fluctuation in oil prices may pressure customers into reducing or limiting their drilling budgets;
• the status of current negotiations with our customers and vendors;
• customer focus on safety performance;
• existing term contracts are neither renewed nor terminated prematurely;
• continued market demand for Super Spec series rigs;
• our ability to deliver rigs to customers on a timely basis;
• the general stability of the economic and political environments in the jurisdictions where we operate; and
• the impact of an increase/decrease in capital spending.

Undue reliance should not be placed on forward-looking information and statements. Whether actual results, performance or achievements will conform to our expectations and predictions is subject to a number of known and unknown risks and uncertainties which could cause actual results to differ materially from our expectations. Such risks and uncertainties include, but are not limited to:

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• the business, operational and/or financial performance or achievements of Precision may be materially different from that currently anticipated;
• volatility in the price and demand for oil and natural gas;
• fluctuations in the level of oil and natural gas exploration and development activities;
• fluctuations in the demand for contract drilling, well servicing and ancillary oilfield services;
• our customers’ inability to obtain adequate credit or financing to support their drilling and production activity;
• changes in drilling and well servicing technology, which could reduce demand for certain rigs or put us at a competitive advantage;
• shortages, delays and interruptions in the delivery of equipment supplies and other key inputs;
• liquidity of the capital markets to fund customer drilling programs;
• availability of cash flow, debt and equity sources to fund our capital and operating requirements, as needed;
• the impact of weather and seasonal conditions on operations and facilities;
• competitive operating risks inherent in contract drilling, well servicing and ancillary oilfield services;
• ability to improve our rig technology to improve drilling efficiency;
• general economic, market or business conditions;
• the availability of qualified personnel and management;
• a decline in our safety performance which could result in lower demand for our services;
• changes in laws or regulations, including changes in environmental laws and regulations such as increased regulation of hydraulic fracturing or restrictions on the burning of fossil fuels and GHG emissions, which could have an adverse impact on the demand for oil and natural gas;
• terrorism, social, civil and political unrest in the foreign jurisdictions where we operate;
• fluctuations in foreign exchange, interest rates and tax rates; and
• other unforeseen conditions which could impact the use of services supplied by Precision and Precision’s ability to respond to such conditions.

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Readers are cautioned that the foregoing list of risk factors is not exhaustive. Additional information on these and other factors that could affect our business, operations or financial results are included in reports on file with applicable securities regulatory authorities, including but not limited to Precision’s Annual Information Form for the year ended December 31, 2023, which may be accessed on Precision’s SEDAR+ profile at www.sedarplus.ca or under Precision’s EDGAR profile at www.sec.gov. The forward-looking information and statements contained in this news release are made as of the date hereof and Precision undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, except as required by law.

Additional Information

For further information about Precision, please visit our website at www.precisiondrilling.com or contact:

Lavonne Zdunich, CPA, CA
Vice President, Investor Relations
403.716.4500

800, 525 – 8th Avenue S.W.
Calgary, Alberta, Canada T2P 1G1
Website: www.precisiondrilling.com

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Directorate and Management Changes

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Serabi Gold plc (“Serabi” or the “Company”) (AIM: SRB, TSX: SBI, OTCQX : SRBIF), confirms that as announced on 20 August 2024, Clive Line, Finance Director of Serabi, has retired and consequently stood down from his role with Serabi and as a Director of the Company with effect from 31 December 2024.

The Board is pleased to confirm the appointment of Colm Howlin, who was previously Group Controller of Serabi, to the role of Chief Financial Officer (“CFO”) of the Company to succeed Clive Line.   Colm Howlin, is a member of the Institute of Chartered Accountants of Ireland, has been with the Company since 2013, and is fluent in Portuguese.

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The Company also is pleased to announce the appointment of Marcus Brewster to the newly created role of Chief Operating Officer (“COO”). Marcus Brewster brings with him significant experience and expertise in both underground and surface mining operations, as well as advancing projects from the latter stages of construction through to full operations. For the last two years, Marcus Brewster was COO of TriStar Gold Inc which is developing the Castelo do Sonhos Project in the State of Pará, Brazil. Prior to that, Marcus Brewster held General Manager roles with Troy Resources in Brazil, Gold Fields, in Ghana, Endeavour Mining in both Mali and Burkina Faso and also served as COO for Hummingbird Resources Plc.   Marcus Brewster holds an MSc in Mining Geology and an MSc in Mining Engineering, both from the Camborne School of Mines, and is also fluent in Portuguese.

Neither Mr Howlin nor Mr Brewster are being appointed to the Board of Directors of the Company.

Michael Hodgson, CEO of Serabi, commented:

“Clive will be much missed by all at Serabi. It has a been a pleasure to work alongside him and I would like to thank him for his very significant contributions to the business during his tenure. Having been with the Company for over 11 years, Colm Howlin is well qualified to take over as the Company’s CFO and to maintain the necessary level of financial discipline over our operations. I am also very pleased to welcome Marcus Brewster to the management team. Having worked with Troy Resources and TriStar Gold, Marcus brings significant experience of operating in Pará. As we seek to grow the production base and aim to develop other opportunities, Marcus will play a crucial role in the on-going success of Serabi.”

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Clive Line has agreed with the Board to remain available to assist the Company as required for a period of up to a further six months.

About Serabi Gold plc
Serabi Gold plc is a gold exploration, development and production company focused on the prolific Tapajós region in Pará State, northern Brazil. The Company has consistently produced 30,000 to 40,000 ounces per year with the Palito Complex and is planning to double production in the coming years with the construction of the Coringa Gold project. Serabi Gold plc recently made a copper-gold porphyry discovery on its extensive exploration licence. The Company is headquartered in the United Kingdom with a secondary office in Toronto, Ontario, Canada.

Enquiries

SERABI GOLD plc
Michael Hodgson        t +44 (0)20 7246 6830
Chief Executive        m +44 (0)7799 473621

Andrew Khov         m +1 647 885 4874
Vice President, Investor Relations &
Business Development
        e contact@serabigold.com

        www.serabigold.com

BEAUMONT CORNISH Limited
Nominated Adviser & Financial Adviser
Roland Cornish / Michael Cornish        t +44 (0)20 7628 3396

PEEL HUNT LLP
Joint UK Broker
Ross Allister        t +44 (0)20 7418 9000

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TAMESIS PARTNERS LLP
Joint UK Broker
Charlie Bendon/ Richard Greenfield        t +44 (0)20 3882 2868

CAMARCO
Financial PR – Europe
Gordon Poole / Emily Hall                t +44 (0)20 3757 4980

HARBOR ACCESS
Financial PR – North America
Jonathan Patterson / Lisa Micali                t +1 475 477 9404

Copies of this announcement are available from the Company’s website at www.serabigold.com.

See www.serabigold.com for more information and follow us on twitter @Serabi_Gold

Notice
Beaumont Cornish Limited, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting as nominated adviser to the Company in relation to the matters referred herein. Beaumont Cornish Limited is acting exclusively for the Company and for no one else in relation to the matters described in this announcement and is not advising any other person and accordingly will not be responsible to anyone other than the Company for providing the protections afforded to clients of Beaumont Cornish Limited, or for providing advice in relation to the contents of this announcement or any matter referred to in it.

Neither the Toronto Stock Exchange, nor any other securities regulatory authority, has approved or disapproved of the contents of this news release

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TORONTO, Dec. 30, 2024 (GLOBE NEWSWIRE) — Rivalry Corp. (the “Company” or “Rivalry“) (TSXV: RVLY) (OTCQX: RVLCF) (FSE: 9VK), the leading sportsbook and iGaming operator for digital-first players, today announced that, further to its press releases dated November 26, 2024, November 29, 2024 and December 6, 2024, it has completed its non-brokered private placement of units of the Company (the “Units“), at a price of $0.15 per Unit (the “Offering“). The Company issued an aggregate of 22,146,851 Units in connection with the Offering, for aggregate gross proceeds of approximately $3.32 million.

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The Company intends to use the proceeds from the Offering for corporate development and general working capital purposes.

About Rivalry

Rivalry Corp. wholly owns and operates Rivalry Limited, a leading sport betting and media company offering fully regulated online wagering on esports, traditional sports, and casino for the digital generation. Based in Toronto, Rivalry operates a global team in more than 20 countries and growing. Rivalry Limited has held an Isle of Man license since 2018, considered one of the premier online gambling jurisdictions, as well as an internet gaming registration in Ontario, and is currently in the process of obtaining additional country licenses. With world class creative execution and brand positioning in online culture, a native crypto token, and demonstrated market leadership among digital-first users Rivalry is shaping the future of online gambling for a generation born on the internet.

Company Contact:
Steven Salz, Co-founder & CEO
ss@rivalry.com
416-565-4713

Investor Contact:
investors@rivalry.com

Media Contact:
Cody Luongo, Head of Communications
cody@rivalry.com
203-947-1936

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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Cautionary Note Regarding Forward-Looking Information and Statements
This news release contains certain forward-looking information within the meaning of applicable Canadian securities laws (“forward-looking statements”). All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “anticipate”, “achieve”, “could”, “believe”, “plan”, “intend”, “objective”, “continuous”, “ongoing”, “estimate”, “outlook”, “expect”, “project” and similar words, including negatives thereof, suggesting future outcomes or that certain events or conditions “may” or “will” occur. These statements are only predictions.

Forward-looking statements are based on the opinions and estimates of management of the Company at the date the statements are made based on information then available to the Company. Various factors and assumptions are applied in drawing conclusions or making the forecasts or projections set out in forward-looking statements. Forward-looking statements are subject to and involve a number of known and unknown, variables, risks and uncertainties, many of which are beyond the control of the Company, which may cause the Company’s actual performance and results to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Such factors, among other things, include regulatory or political change such as changes in applicable laws and regulations; the ability to obtain and maintain required licenses; the esports and sports betting industry being a heavily regulated industry; the complex and evolving regulatory environment for the online gaming and online gambling industry; the success of esports and other betting products are not guaranteed; changes in public perception of the esports and online gambling industry; failure to retain or add customers; the Company having a limited operating history; negative cash flow from operations; operational risks; cybersecurity risks; reliance on management; reliance on third parties and third-party networks; exchange rate risks; risks related to cryptocurrency transactions; risk of intellectual property infringement or invalid claims; the effect of capital market conditions and other factors on capital availability; competition, including from more established or better financed competitors; and general economic, market and business conditions. For additional risks, please see the Company’s MD&A dated April 30, 2024 and other disclosure documents available on SEDAR+ at www.sedarplus.ca.

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No assurance can be given that the expectations reflected in forward-looking statements will prove to be correct. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

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